Columbus Council Approves Tax Breaks For Abbott Labs And Four Other Firms
Columbus City Council last night approved tax breaks for five companies that officials say will retain or create a total of 723 jobs.
One of the deals is a 10-year, 75 percent property tax abatement for Abbott Labs to expand and add a new product line. Sponsoring council member Emmanuel Remy says other cities were trying to lure Abbott.
But Council critic and candidate Joe Motil says Abbott doesn’t need the money.
Council also approved a five-year tax break for Radiology Partners Management for its expansion; income tax breaks for Filtra-Systems and Vantage Point Logistics; and a 10-year, 65 percent property-tax abatement for Cloverleaf Cold Storage. It's at least the city's third tax break for Cloverleaf. Motil says council has approved 121 million dollars in tax abatements over the last three years for local Fortune 500 companies. The panel last night also approved spending 1.3 million dollars in Community Development Block Grant money for design work on a new early childhood education facility on the Hilltop. Sponsoring council member Elizabeth Brown.
Plans for the facility were announced during Mayor Andy Ginther's State of the City speech earlier this year.